ISLAMABAD: United Arab Emirates President Sheikh Mohamed Bin Zayed Al-Nahyan committed to investing $10 billion in various sectors of the Pakistani economy during a meeting with Prime Minister Shehbaz Sharif in Abu Dhabi on Thursday. The announcement came during PM Shehbaz’s day-long visit to the UAE, according to a statement by Pakistan Television on social media.
Sheikh Mohamed assured unwavering UAE support and pledged the substantial investment to bolster Pakistan’s economic landscape. PM Shehbaz expressed gratitude for the UAE’s hospitality towards the 1.8 million-strong Pakistani diaspora and highlighted Pakistan’s vast human resource potential.
The meeting covered a wide range of bilateral relations, emphasizing cooperation in political, economic, social, cultural, and defense sectors. PM Shehbaz stressed the importance of enhancing strategic partnerships, particularly in information technology, renewable energy, and tourism.
He outlined steps taken by his government to stabilize Pakistan’s socio-economic environment and boost investor confidence, reiterating Pakistan’s commitment to implementing investment agreements in energy, port operations, wastewater treatment, food security, logistics, minerals, and financial services.
The leaders also discussed regional and global developments of mutual interest. PM Shehbaz extended an invitation for Sheikh Mohamed to visit Pakistan, which he accepted.
In a statement, PM Shehbaz emphasized that his visit aimed at fostering joint collaborations and investments rather than seeking loans. Speaking at a roundtable session in Abu Dhabi, he articulated a vision for vocational training and modern skills development to empower Pakistani youth for contributions in the UAE and through remote services.
Rejecting reliance on aid, PM Shehbaz asserted his determination to transform Pakistan’s economy through joint ventures, collaborations, and knowledge-sharing partnerships with UAE counterparts. He praised UAE’s diversified economic strategy and its consistent support for Pakistan.
Accompanying the prime minister on his visit were key cabinet members including Deputy PM and Foreign Minister Ishaq Dar, Defence Minister Khawaja Asif, Interior Minister Mohsin Naqvi, Information Minister Attaullah Tarar, Commerce Minister Jam Kamal Khan, and Special Assistant to PM Tariq Fatemi. The visit is seen as a significant step towards strengthening the brotherly and multifaceted ties between Pakistan and the UAE.
